What are the chances a mortgage company will do a loan modification twice?

Tips and Deals Forums Home Mortgage What are the chances a mortgage company will do a loan modification twice?

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    • #200952

      My husband lost two jobs in two years. It isnt because he isnt a good employee its his field of work.
      We have fallen a few weeks behind and the mortgage company said we can try. but i seriously doubt it.

      He does have a job but like i said we are behind now with the job loss. we both are looking for additonal work also.
      I have a four year old to take care of she is about to have surgery so we both cannot work at the same time. it will have to be different days.
      They said we need to provide proof that his pay has went down. but i just think this is a ploy to try to take the house and prove we cannot afford it.

      We will be able to get caught up in a couple of weeks due to a job bonus…but that doesnt help the rest of the year.

    • #270817


      They will work with you to an extent. It may be time to start collecting boxes for that inevitable moving day. I’m not trying to sound arrogant but speaking from personal experience. Was in a similar situation recently until I took on a second job to meet ends. Begin looking for cheap places to rent. I mean rock bottom cheap if need be so that if you are forced to restart due to our sorry ass economy you will be in a position to rebuild. Don’t loose sleep over it because you are not alone in this situation. Millions of us are going through the same thing.

      Good Luck

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